Suppose Wal-Mart stock is selling at $59 a share and Mattel stock is selling at $28 a share. Amy has a maximum of $6000 to invest. She wishes to purchase four times as many shares of Wal-Mart as of Mattel. Only whole shares of stock can be purchased.
a) How many shares of each will she purchase?
b) How much money will be left over?

88 shares of Wall-Mart stock,

a) Step-by-step explanation,  22 shares of Mattel stock. b) $192

Given:

Suppose Wall-Mart stock is selling at $59 a share and Mattel stock is selling at $28 a share.

Amy has a maximum of $6000 to invest.

She wishes to purchase four times as many shares of Wall-Mart as of Mattel.

Only whole shares of stock can be purchased.

Question asked:

a) How many shares of each will she purchase?

b) How much money will be left over?

Solution:

Selling price of each share of Wall-Mart stock = $59

Selling price of each share of  Mattel stock = $28

Let number of shares of Mattel stock purchased =

Then, number of shares of Wall-Mart stock =

Total money invested =$6000

Shares of Mattel stock $28 + Shares of  Wall-Mart stock $59 = $6000

Dividing both sides by 264

That means, total 22 shares of Mattel stock is purchased and 192 is the money left over:-

Number of shares of Wall-Mart stock = =

Total amount spent on Mattel stock shares = 22 $28 = $616

Total amount spent on Wall-mart stock shares = 88 $59 = $5192

Total amount spent on both shares = $616 + $5192 = $5808

Money left over = $6000 -  $5808 = $192

a) He will purchase 88 shares of Wall-Mart stock and 22 shares of Mattel stock.

b) Money left over is $192.

paula, cory, and krista

any options?

step-by-step explanation: